Category: Taxes

Your 2021 Year-End Checklist: Strategy, Taxes, and More

Year-end has always been a hectic and sometimes chaotic time for businesses large and small. In the second year of a pandemic, we witnessed a shift in the global economy, crazy consumer demands, and a damaged supply chain. It would be easy to overlook the reviews and planning necessary to prepare for 2022. As a… Continue reading Your 2021 Year-End Checklist: Strategy, Taxes, and More

Booking Business Travel Again? Know Your Deductions

The travel industry in general and airlines specifically took a massive hit during the COVID-19 pandemic. With major cities in lockdown and strict restrictions on hotels and restaurants, “business travel” was accomplished virtually on smartphones or laptops. Now that vaccines have allowed a loosening of restrictions, traditional business travel is once again an option. Among… Continue reading Booking Business Travel Again? Know Your Deductions

Your 2021 Small Business Tax Filing and Preparation Guide

If you’re a small business owner in California, you know what every small business owner knows– that you have to do taxes. Taxes certainly aren’t fun, but they don’t have to be so hard. It may seem daunting, especially if you’re a new small business, but preparation and filing are more simple than you might… Continue reading Your 2021 Small Business Tax Filing and Preparation Guide

The ASCEND Small Business Coronavirus Survival Plan

It’s only been a few weeks of this coronavirus pandemic. But it feels like a decade since it started. Many business owners have been affected by official orders, have seen customers disappear and are fearful of their future. It’s time to start taking action and doing what we can to make it through this. To… Continue reading The ASCEND Small Business Coronavirus Survival Plan

How to Minimize Your Small Business Taxes: It’s Time to Prepare

Tax preparation is the best way to minimize your small business taxes. Whether it is done by tax professionals or you do it yourself, you want to organize your documents and update your tax strategy, so that you can take advantage of tax policies designed to save your hard-earned profits. Business Formation and Taxes The… Continue reading How to Minimize Your Small Business Taxes: It’s Time to Prepare

Tax Smarts: Withdrawing Cash from Your Closely Held Corporation

You just closed your books on 2019 and got that tax shock. Maybe you paid too much, maybe the business had a huge tax bill. Regardless, it’s time to start planning for 2020 and minimize the double taxation that comes with a corporation. So, how can you withdraw cash from a closely held corporation in… Continue reading Tax Smarts: Withdrawing Cash from Your Closely Held Corporation

Know Your Cannabis Taxes

Taxes. Does that kill your buzz? You don’t often hear the word ‘taxes’ in conversations about cannabis and cannabis industries. But it’s important. Just like any other tax, there are tax implications of a marijuana business. But first, let’s look into this idea of running a cannabis business. Types of Business in the Cannabis Industry… Continue reading Know Your Cannabis Taxes

Small Business Tax Preparation: Work with a Tax Pro

Signs That Your Need a Tax Pro Usually, the biggest sign that it’s time to hire a tax pro is that sinking feeling in your gut. You know that you’re not on top of the tax codes. Maybe you’re not even sure when or what to file, or you’ve got that nagging feeling that you’re… Continue reading Small Business Tax Preparation: Work with a Tax Pro

1099 Reasons to Hire Independent Contractors

Maybe not 1099 reasons. But there are good reasons to go the independent contractor route versus hiring employees. Of course, there are also compelling reasons to go the other direction on that. There’s a lot to consider when you make this choice, so let’s dive in. Independent Contractors versus W2 Employees Before we get into… Continue reading 1099 Reasons to Hire Independent Contractors